TIDM61QS
RNS Number : 8162A
Telefonaktiebolaget Lm Ericsson
24 January 2024
Ericsson announces leadership changes to the Executive Team
-- Niklas Heuveldop, currently Head of Market Area North
America, is appointed new Head of Business Area Global
Communications Platform and CEO of Vonage as of February 1,
2024
-- Yossi Cohen, currently Head of Strategy, Technology,
Marketing and Business Development within Market Area North
America, is appointed Senior Vice President and Head of Market Area
North America as of February 1, 2024
-- Rory Read, currently Head of Business Area Global
Communications Platform and CEO of Vonage, has decided to step down
from his positions on February 1, 2024, and leave Ericsson at the
end of the first quarter of 2024
Ericsson (NASDAQ: ERIC) today announces the appointment of
Senior Vice President Niklas Heuveldop as new Head of Business Area
Global Communications Platform and CEO of Vonage. Mr. Heuveldop who
has headed Market Area North America since 2017, will take up his
new position on February 1, 2024.
Börje Ekholm, President and CEO of Ericsson, comments: "I'm very
pleased that Niklas has accepted to lead Business Area Global
Communications Platform at this pivotal time. The Vonage
acquisition and our investments in the global network platform are
foundational to our long-term strategy execution, driving growth in
both the enterprise segment, but also reinforcing our network
infrastructure business," and continues:
"Niklas has proven himself in multiple roles on the executive
team. Under his leadership we have significantly strengthened our
position in North America, expanding our market share with all
leading customers in the region and the industry-defining USD 14
billion deal with AT&T, creates a solid foundation for our
business in the market for years to come. He is also an important
driver of our ongoing organizational transformation, driving
ethics, compliance and operational excellence."
Niklas Heuveldop says: "I am thrilled but also humbled to be
offered the opportunity to ensure that we leverage Vonage's
capabilities and the 5G innovation platform to their full potential
- it's a once in a lifetime opportunity. I move on knowing that we
have the best talent in the industry to serve our customers and
Yossi will continue to strengthen our local capabilities."
Yossi Cohen, currently Head of Strategy, Technology, Marketing
and Business Development within Market Area North America, will
replace Mr. Heuveldop as Head of Market Area North America as of
February 1, 2024. Mr. Cohen will be a member of Ericsson's
Executive Team and report to the CEO.
Mr. Cohen has a multifaceted 22-year tenure at Ericsson, brings
global expertise in Technology, Business, Operations, and
Innovation. His roles within Ericsson include Head of Customer Unit
Verizon, Global Head of Radio Sales and Business Management in
Stockholm, and Head of Global Customer Unit Softbank in Tokyo. His
experience extends beyond Ericsson, encompassing positions in a
telecommunications technology startup and a mobile operator.
Börje Ekholm says: "Yossi's deep understanding of technology and
business strategy is crucial as we lead in the 5G landscape. His
expertise in fostering dynamic customer relationships and a
progressive approach to technology will be key in shaping our
future operations and maintaining our industry leadership. He has
played an important role within our North American operations for
the last seven years and I'm happy that he has accepted to take on
this new role."
Yossi Cohen comments: "I am honored and excited to take this
role at a transformative time in telecom. North America is at the
forefront of technological innovation that turns visions into
reality. Our commitment goes beyond technology; it's about forging
enduring customer relationships. Leveraging Ericsson's 5G
leadership, our focus remains steadfast: empowering customers to
unlock potential and drive innovation. This new chapter isn't just
a personal milestone. It's a chance to shape a future
collaboratively."
Rory Read, Head of Business Area Global Communications Platform
and CEO of Vonage, will transition from his position on February 1,
2024, and become advisor to the Business Area. Mr. Read will leave
Ericsson at the end of the first quarter 2024.
Börje Ekholm, President and CEO, says: "We thank Rory for his
dedication and contributions to the integration of Vonage into
Ericsson. The Vonage business and technology remain key to execute
on our strategy to expand in Enterprise and help enable operators
to monetize the network features in 5G. We are discussing network
APIs and communications solutions with all customers today, as they
see this as a major opportunity to monetize the networks and in
turn drive further investments in mobile infrastructure. I wish
Rory the very best in his next endeavor."
Mr. Read adds: "It has been a true honor to lead this talented
Vonage team on this journey - first around the power of the Vonage
Communications Platform and then into the world of 5G with
Ericsson. There is no question Ericsson is shaping the industry
landscape by leveraging the full value of 5G and by creating the
world's most powerful innovation platform. Through this platform,
Ericsson will be able to monetize 5G in completely new ways by
exposing advanced network capabilities to the global developer
community. The Company has come a long way towards realizing this
strategy and I look forward to following Ericsson and handing over
the reins to Niklas' capable hands."
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ABOUT ERICSSON:
Ericsson enables communications service providers and
enterprises to capture the full value of connectivity. The
company's portfolio spans the following business areas: Networks,
Cloud Software and Services, Enterprise Wireless Solutions, Global
Communications Platform, and Technologies and New Businesses. It is
designed to help our customers go digital, increase efficiency and
find new revenue streams. Ericsson's innovation investments have
delivered the benefits of mobility and mobile broadband to billions
of people globally. Ericsson stock is listed on Nasdaq Stockholm
and on Nasdaq New York. www.ericsson.com
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January 24, 2024 12:15 ET (17:15 GMT)
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